Muncy Columbia Financial Corporation Announces Fourth Quarter 2025 Earnings

January 21, 2026 12:24:00 pm

Source: Business Wire

Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (”Bank”), has released its unaudited consolidated financial results for the fourth quarter of 2025.

Unaudited Financial Information

Muncy Columbia Financial Corporation reported record earnings for the fourth quarter 2025 and year ended December 31, 2025. Net income, as reported under accounting principles generally accepted in the United States of America (“GAAP”), for the fourth quarter 2025 was $7,393,000, or $2.09 per share, compared to $5,224,000, or $1.47 per share, for the fourth quarter 2024. Net income, as reported under GAAP, for the year ended December 31, 2025 was $24,225,000, or $6.85 per share compared to $19,023,000, or $5.33 per share for the same period in 2024. Return on average assets and return on average equity were 1.77% and 15.49%, respectively, for the fourth quarter 2025 as compared to 1.30% and 12.30%, respectively, for the fourth quarter 2024.

Net interest income of $16,272,000 for the fourth quarter 2025 was up $2,876,000 from the fourth quarter 2024 reflecting an increase in total interest and dividend income of $2,046,000 and a decrease of $830,000 in total interest expense. The fully-tax equivalent net interest margin was 4.27% for the fourth quarter 2025 as compared to 3.63% for the fourth quarter 2024.

For the fourth quarter 2025, a $4,000 credit for credit losses was recorded compared to a $567,000 provision for credit losses for the fourth quarter 2024. As of December 31, 2025 the allowance for credit losses to total loans was 0.85% compared to 0.88% as of December 31, 2024.

Total non-interest income increased $80,000 to $2,789,000 for the fourth quarter 2025, compared to the fourth quarter 2024 amount of $2,709,000. Total non-interest expense increased $640,000 from $9,455,000 for the fourth quarter 2024, to $10,095,000 for the fourth quarter 2025. Significant variances in total non-interest expense included an increase in salaries and employee benefits of $420,000 due primarily to increases in salaries expense of $123,000, health care expense of $159,000 and other employee benefits of $138,000, an increase in professional fees of $199,000 due primarily to higher internal and external audit fees and consulting costs and an increase in other non-interest expense of $105,000 due primarily to higher overall marketing and advertising costs as well as higher foreclosure and loan workout expenses comparing the fourth quarter 2025 to the fourth quarter 2024.

Total assets amounted to $1,673,199,000 at December 31, 2025, as compared to $1,595,958,000 at December 31, 2024. For the year ended December 31, 2025, cash and cash equivalents increased $31,160,000, available-for-sale debt securities increased $3,997,000 and loans receivable, not held for sale, increased by $51,644,000. Total liabilities amounted to $1,480,658,000 at December 31, 2025, as compared to $1,429,548,000 at December 31, 2024. Total deposits increased $120,323,000 while short-term borrowings decreased $55,933,000 and long-term borrowings decreased $14,952,000 during the year ended December 31, 2025.

The increase in total deposits during the year ended December 31, 2025 was as a result of strong organic deposit growth in combination with the continued execution of a strategic initiative to reposition customer repurchase agreements, which are classified as short-term borrowings, into core deposit accounts. The Bank anticipates the completion of this project in 2026 which will assist in optimizing the Bank’s long-term liquidity needs and balance sheet management strategies.

Total non-performing assets amounted to $11,978,000 or 0.72% of total assets at December 31, 2025 as compared to $10,117,000 or 0.63% of total assets at December 31, 2024. The increase in non-performing assets was attributable to an increase in non-accrual loans from $10,047,000 at December 31, 2024 to $11,523,000 at December 31, 2025. Both total non-performing assets and non-accrual loans decreased during the fourth quarter 2025 from their respective amounts at September 30, 2025 of $15,536,000 and $15,466,000.

Total stockholders’ equity equated to a book value per share of $54.44 at December 31, 2025 as compared with $47.11 at December 31, 2024. For the fourth quarter 2025 total cash dividends of $0.45 per share were paid to stockholders as compared to $0.44 for the same period of 2024. For the year ended December 31, 2025, total cash dividends of $2.30 per share were paid to stockholders, which includes the impact of a special one-time cash dividend of $0.50 per share, as compared to $1.76 for the same period of 2024. The Corporation remains well capitalized, with an equity to assets ratio of 11.51% at December 31, 2025 as compared to 10.43% at December 31, 2024.

About Muncy Columbia Financial Corporation

Muncy Columbia Financial Corporation ("MCFC") is a registered financial holding company headquartered in Bloomsburg, Pennsylvania. MCFC has one subsidiary bank, Journey Bank, serving individuals, families, nonprofits and business clients throughout Clinton, Columbia, Luzerne, Lycoming, Montour, Northumberland and Sullivan Counties through 22 banking offices.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and any other risks described in the “Risk Factors” sections of reports filed by the Corporation with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Muncy Columbia Financial Corporation
Consolidated Balance Sheets

(In Thousands, Except Share and Per Share Data) (Unaudited)	December 31, 2025		December 31, 2024
ASSETS
Cash and due from banks	$	12,828		$	11,200
Interest-bearing deposits in other banks		35,712			6,180
Total cash and cash equivalents		48,540			17,380

Available-for-sale debt securities, at fair value		327,245			323,248
Marketable equity securities, at fair value		1,411			1,355
Restricted investment in bank stocks, at cost		5,412			7,095
Loans held for sale		847			1,691

Loans receivable		1,177,581			1,125,937
Allowance for credit losses		(9,959	)		(9,858	)
Loans, net		1,167,622			1,116,079

Premises and equipment, net		26,263			26,484
Foreclosed assets held for sale		320			70
Accrued interest receivable		5,063			4,850
Bank-owned life insurance		41,740			40,953
Investment in limited partnerships		4,346			5,092
Deferred tax asset, net		5,992			10,012
Goodwill		25,609			25,609
Other intangible assets, net		8,042			10,047
Other assets		4,747			5,993
TOTAL ASSETS	$	1,673,199		$	1,595,958

LIABILITIES
Interest-bearing deposits	$	1,135,740		$	1,032,729
Noninterest-bearing deposits		277,012			259,700
Total deposits		1,412,752			1,292,429

Short-term borrowings		12,455			68,388
Long-term borrowings		40,584			55,536
Accrued interest payable		1,644			1,857
Other liabilities		13,223			11,338
TOTAL LIABILITIES		1,480,658			1,429,548

STOCKHOLDERS' EQUITY
Common stock, par value $1.25 per share; 15,000,000 shares authorized;
issued 3,845,479 and outstanding 3,536,754 at December 31, 2025;
issued 3,841,438 and outstanding 3,532,713 at December 31, 2024		4,807			4,802
Additional paid-in capital		83,720			83,543
Retained earnings		119,364			103,268
Accumulated other comprehensive loss		(4,043	)		(13,896	)
Treasury stock, at cost; 308,725 shares at December 31, 2025 and 2024		(11,307	)		(11,307	)
TOTAL STOCKHOLDERS' EQUITY		192,541			166,410
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	1,673,199		$	1,595,958

Muncy Columbia Financial Corporation
Consolidated Statements of Income

	For the Three Months Ended		For the Years Ended
	December 31,		December 31,
(In Thousands, Except Share and Per Share Data) (Unaudited)		2025			2024			2025			2024
INTEREST AND DIVIDEND INCOME
Interest and fees on loans:
Taxable	$	19,548		$	18,282		$	76,002		$	71,513
Tax-exempt		388			412			1,583			1,518
Interest and dividends on investment securities:
Taxable		1,675			1,081			5,580			4,256
Tax-exempt		877			853			3,461			3,361
Dividend and other interest income		141			190			625			807
Deposits in other banks		285			50			767			288
TOTAL INTEREST AND DIVIDEND INCOME		22,914			20,868			88,018			81,743

INTEREST EXPENSE
Deposits		6,022			6,049			24,115			22,402
Short-term borrowings		140			724			1,103			5,741
Long-term borrowings		480			699			2,201			3,135
TOTAL INTEREST EXPENSE		6,642			7,472			27,419			31,278

NET INTEREST INCOME		16,272			13,396			60,599			50,465

(CREDIT) PROVISION FOR CREDIT LOSSES		(4	)		567			839			837

NET INTEREST INCOME AFTER (CREDIT) PROVISION FOR CREDIT LOSSES		16,276			12,829			59,760			49,628

NON-INTEREST INCOME
Service charges and fees		763			723			2,968			2,732
Interchange fees		674			670			2,641			2,640
Gain on sale of loans		163			169			503			413
Earnings on bank-owned life insurance		226			236			925			928
Brokerage		238			198			938			807
Trust		325			290			1,111			943
Gains on marketable equity securities		28			52			56			60
Realized gains (losses) on available-for-sale debt securities, net		4			(77	)		(422	)		(85	)
Other non-interest income		368			448			1,643			1,937
TOTAL NON-INTEREST INCOME		2,789			2,709			10,363			10,375

NON-INTEREST EXPENSE
Salaries and employee benefits		5,333			4,913			21,720			19,167
Occupancy		619			616			2,623			2,459
Furniture and equipment		400			427			1,704			1,665
Pennsylvania shares tax		301			250			1,239			941
Professional fees		586			387			1,939			1,522
Director's fees		212			276			695			618
Federal deposit insurance		218			225			870			820
Data processing and telecommunications		851			923			3,645			3,595
Automated teller machine and interchange		184			196			779			671
Merger-related expenses		-			(99	)		-			241
Amortization of intangibles		491			546			2,023			2,202
Other non-interest expense		900			795			3,783			3,761
TOTAL NON-INTEREST EXPENSE		10,095			9,455			41,020			37,662

INCOME BEFORE INCOME TAX PROVISION		8,970			6,083			29,103			22,341
INCOME TAX PROVISION		1,577			859			4,878			3,318
NET INCOME	$	7,393		$	5,224		$	24,225		$	19,023

EARNINGS PER SHARE - BASIC AND DILUTED	$	2.09		$	1.47		$	6.85		$	5.33
WEIGHTED AVERAGE SHARES OUTSTANDING		3,535,985			3,555,920			3,534,435			3,568,145

					At or Three Months Ended (Unaudited)

(Dollars in Thousands, Except Per Share Data)		12/31/2025	9/30/2025	6/30/2025		3/31/2025		12/31/2024

Operating Highlights

	Net income				$	7,393			$	6,719			$	5,768			$	4,345			$	5,224
	Net interest income				16,272				15,651				14,808				13,868				13,396
	(Credit) provision for credit losses				(4	)			479				254				110				567
	Non-interest income				2,789				2,892				2,237				2,445				2,709
	Non-interest expense				10,095				9,978				9,856				11,091				9,455

Balance Sheet Highlights

	Total assets				$	1,673,199			$	1,654,950			$	1,616,215			$	1,602,336			$	1,595,958
	Loans, net and loans held for sale				1,168,469				1,160,829				1,149,624				1,135,981				1,117,770
	Goodwill and other intangibles, net				33,651				34,142				34,653				35,164				35,656
	Total deposits
	Noninterest-bearing			$	277,012			$	272,376			$	272,680			$	273,783			$	259,700
	Savings					192,311				192,903				194,816				195,748				194,958
	NOW					461,367				456,661				422,415				406,330				380,801
	Money Market				104,726				107,853				104,677				103,759				108,263
	Time Deposits				377,336				367,097				366,475				359,015				348,707
	Total interest-bearing deposits				1,135,740				1,124,514				1,088,383				1,064,852				1,032,729
	Core deposits*					1,035,416				1,029,793				994,588				979,620				943,722

Selected Ratios

	Fully tax-equivalent net interest margin			4.27	%			4.15	%			4.04	%			3.83	%			3.63	%
	Annualized return on average assets				1.77	%			1.63	%			1.44	%			1.10	%			1.30	%
	Annualized return on average equity				15.49	%			14.81	%			13.33	%			10.33	%			12.30	%

Capital Ratios - Journey Bank**

	Common equity tier I capital ratio				15.92	%			15.69	%			15.33	%			15.13	%			15.06	%
	Tier 1 capital ratio					15.92	%			15.69	%			15.33	%			15.13	%			15.06	%
	Total risk-based capital ratio				16.87	%			16.70	%			16.33	%			16.13	%			16.03	%
	Leverage ratio					9.93	%			9.62	%			9.43	%			9.30	%			9.10	%

Asset Quality Ratios

	Non-performing assets			$	11,978			$	15,536			$	13,844			$	12,300			$	10,117
	Allowance for credit losses - loans				9,959				10,548				10,167				9,985				9,858
	Allowance for credit losses to total loans			0.85	%			0.90	%			0.88	%			0.87	%			0.88	%
	Non-performing assets to total assets			0.72	%			0.94	%			0.86	%			0.77	%			0.63	%

Per Share Data

	Earnings per share			$	2.09			$	1.90			$	1.63			$	1.23			$	1.47
	Dividend declared per share***				0.45				0.45				0.95				0.45				0.44
	Book value					54.44				52.17				49.87				48.50				47.11
	Common stock price:
	Bid				$	47.81			$	49.36			$	47.25			$	40.25			$	41.88
	Ask					59.54				50.00				49.05				42.00				42.88
	Weighted average common shares				3,535,985				3,535,009				3,533,977				3,532,727				3,555,920

	* Core deposits are defined as total deposits less time deposits
	** Capital ratios for the most recent period are estimated
	*** Includes special one-time cash dividend of $0.50 per share for the three months ended 6/30/2025